Many people think that if they are not tax residents in Spain, they will only have to pay taxes in their country of origin. The reality is different: even if you are not a resident, selling a property in Spain creates a tax obligation on the capital gain obtained.
To guarantee the payment, the buyer must withhold 3% of the sale price, which is later adjusted in the seller’s tax return. This ensures that the Spanish Tax Office receives at least part of the tax before the sale is finalized.
In addition, your country of tax residence may require you to declare this gain, although international agreements exist to avoid double taxation. That’s why it’s important to be well informed and plan the transaction to avoid paying taxes twice.
Selling a property in Spain as a non-resident has its particularities, but with the right information, you can comply with the law while protecting your financial interests.